For many, retirement means saying goodbye to the 9-to-5 grind and hello to endless free time. But some may wonder, "What do I do now?" You've worked hard all your life, and suddenly, the days seem longer. Well, that's where having a retirement career Plan B can brighten your days!
Why Consider a Second Career?
Having a Plan B career isn’t about making ends meet. Because you should now be able to fill your days with purpose and passion, right? Maybe you've always had a side interest that you never had time to explore. Now's the time to turn that interest into a career, even if just part-time!
Ideas for a Plan B Career
It's a great time to explore interests that you may have placed on the back burner during your working years. What are they? In case you can't think of any on top of your head, here are some potential Plan B careers to consider.
Teaching
With a lifetime of experience, you have a lot to share, haven't you? Teaching is definitely a fulfilling way to pass on your knowledge to others. Whether it’s a formal classroom setting or casual community workshops, helping others learn can be very rewarding. And who knows? You might teach yourself through teaching others - you might learn something new too!
- Sharing your life experiences and professional expertise can be extremely rewarding. In a teaching role, you could work part-time and choose a subject you love.
- Your years of real-world experience bring a unique flavor to the classroom which is often valued by learners.
Consulting
You've garnered a wealth of knowledge in your field over the years. Consulting is a wonderful way to continue using your expertise but on a more flexible schedule.
Companies look for the insights of experienced professionals, right? You could help businesses solve problems, streamline operations, or mentor the next generation of leaders.
- Companies (including small business owners) appreciate the wisdom and knowledge that comes with years of experience. As a consultant, your skills will help others succeed.
- The flexible hours and the ability to choose clients allow for a more relaxed work pace compared to the hustle often seen in young professional life.
Did You Know?
- Retiree Entrepreneurs: About 25% of retirees consider starting their own business or earning money from a hobby.
- Income Boost: Retirees who earn money from hobbies typically boost their income by 10-20%.
- Online Sales: Over 60% of retirees who monetize their hobbies do so through online platforms.
- Crafts and Art: About 35% of retirees earning from hobbies are involved in crafts and art.
- Time Investment: Retirees spend an average of 10-15 hours per week on their monetized hobbies.
Blogging
If you love to write, now is an excellent time to explore blogging. You could start a blog about a hobby you love, or even pen a memoir. Writing is also a therapeutic way to reflect on life and share your stories with the world.
- Your lifetime of experiences can fill blogs with interesting stories, tips or lessons.
- Writing is also therapeutic and can be done from home, at your own pace.
Arts and Crafts
Perhaps you have a knack for creating beautiful things. Turning your artistic hobbies into a small business is definitely a fun way to spend your time, isn't it? Whether it’s painting, knitting, woodworking, or any other craft, there's likely a market for handmade items. You could sell your work online, at craft fairs, or local boutiques.
- If you've always enjoyed creating art, now is the perfect time to turn this hobby into a small business. Your unique style, developed over the years, can truly shine now.
- This endeavor also allows you to set your own schedule, giving you the freedom to enjoy your retirement while earning some income.
Gardening
For those who love the outdoors and have a green thumb, gardening could be a peaceful and enjoyable second career. You could start a gardening service, offer landscape design, or even start a small nursery. Gardening can also be a wonderful way to connect with nature and your community.
- Gardening is not only therapeutic but can also become a wonderful community activity. Maybe start a gardening club, offer workshops or create a small nursery.
- Being close to nature and working at a peaceful pace is often a wonderful contrast to the rush of previous working years.
Pet Care
A love for animals can turn into a sweet little venture. Offering pet sitting, dog walking, or even starting a small pet grooming service could fill your days with furry joy. Plus, it’s a fantastic way to stay active and enjoy the companionship of animals.
- Pets bring joy and wonderful companionship, no doubt. A pet care service or a small pet boarding facility can be an enjoyable venture. You get to spend your days with animals, and their love is a wonderful stress-buster.
- As a retiree, your calmer demeanor and patience often work wonders with animals. Plus, the physical activity involved in pet care can keep you active and healthy.
Photography
Capturing moments through the lens is very fulfilling, no doubt. If you enjoy photography and you see yourself as a semi-pro, do offer your services for events, portraits, or nature photography. It’s a creative way to explore your surroundings while honing your photography skills.
- Photography is an art that tells stories, right? If you’ve always had an eye for good pictures, post-retirement could be the perfect time to explore this interest more.
- You can take your time to learn the nuances, practice at your own pace, and even start a small freelance photography business. Your patience and attention to detail, honed over the years, can help you excel in this field.
Did You Know?
- Social Media Usage: Approximately 50% of retirees promoting their hobby businesses use social media for marketing.
- Success Rate: Around 70% of retirees report satisfaction and success in monetizing their hobbies.
- Gardening Profits: Gardening, as a monetized hobby, can yield an average profit of $500 to $1,000 annually.
- Freelancing: About 20% of retired hobbyists engage in freelance writing, graphic design, or consulting.
- E-commerce Growth: E-commerce by retirees has grown by 30% in the last five years.
Affiliate Marketing
If you enjoy recommending products and have a basic understanding of online platforms, affiliate marketing might be for you.
You can create a website, write about and promote products you believe in, and earn a commission for sales made through your referral links.
This career allows for a flexible schedule and can be done from home. The experience you have in knowing which products work and which ones don’t should be very appealing to readers who seek genuine advice.
Fitness Coaching
If you've always been active and enjoy fitness, becoming a fitness coach could be an energizing second career. Help other aged stay healthy and achieve their fitness goals. Whether it’s through yoga, personal training, or group classes, promoting health and wellness to fellow retirees is very satisfying.
- A lifetime of maintaining good health or an interest in fitness can be transformed into a coaching career. It’s a fantastic way to stay fit yourself and help others achieve their health goals at the same time.
- As a retiree, your empathy and understanding can create a comfortable environment for clients. Plus, you can tailor your services to cater to other retirees, creating a sense of community.
Exploring New Interests
Above all, your Plan B career should be something you enjoy. Retirement is a chance to explore new interests or reignite old passions. Take some time to explore what makes you happy and go from there. Who knows, your Plan B career could open up a whole new chapter of enjoyable experiences.
Benefits of Having a Plan B
The golden years post-retirement bring a freedom that is both exhilarating and, at times, a tad intimidating, right? After years of structured work schedules, entering a phase with open-ended days makes you feel like stepping into unchartered territory.
Having a Plan B career is like having a friendly compass in this new phase of life. Let’s think about the wonderful perks this can offer to retirees.
1. Remaining Active
A Plan B career keeps you moving, both mentally and physically. It’s like a gentle exercise for the brain and body which helps in maintaining a healthy lifestyle.
Engaging in work you love will make staying active a joyful endeavor rather than a chore.
2. New Social Interactions
Your second career opens doors to meet new people and build meaningful connections. It’s a wonderful way to keep social interactions alive and bubbling. The camaraderie and cheerful exchanges can brighten up your days and create lasting friendships.
3. Nurturing a Sense of Purpose
Having a reason to wake up with a smile, knowing your day has a purpose, is a beautiful feeling. Your Plan B career can fill your days with meaning, making retirement an exciting and fulfilling phase.
Did You Know?
- Educational Workshops: 15% of retirees earn from conducting workshops or classes related to their hobbies.
- Blogging Income: Retiree bloggers can earn between $200 to $2,000 per month, depending on their niche and audience size.
- Photography Earnings: Retiree photographers often make $100-$500 per project.
- Craft Fairs and Markets: Participating in craft fairs can yield an average of $250 to $1,000 per event for retirees.
- Cooking and Baking: Retirees who monetize cooking or baking hobbies can see an average monthly income of $300 to $1,500.
4. Lifelong Learning
Learning never stops, and your second career is a great way to continue this wonderful process. It could introduce you to new skills, fresh perspectives, and even unknown aspects of your own interests.
5. Financial Independence
While the primary motive might not be to earn, having a little extra income can certainly be empowering. It provides financial comfort and independence, and who doesn’t like a bit of extra pocket money to spoil the grandkids or treat oneself?
6. Creative Expression
Many Plan B careers stem from personal interests, right? This provides a fantastic outlet for creative expression. Be it through art, writing, or any other form, expressing oneself is highly satisfying and therapeutic.
7. Structured Routine
Having a structured day can provide a sense of calm and order. A second career offers a gentle structure, helping to keep days organized yet flexible.
8. Contribution to Community
Through your second career, you can contribute to your community, be it by offering services, sharing knowledge, or creating beautiful products. It’s a heartfelt way to give back and stay connected with the world around you.
9. Exploring Uncharted Waters
Post-retirement is a great time to explore careers you might not have considered earlier. It’s like opening a new book and discovering a story you never knew existed.
10. Building a Legacy
Your Plan B career could also be a step towards creating a legacy, something meaningful that reflects your passion, values, and the essence of the experiences gathered over a lifetime.
How To Prepare Plan B
1. Inventory Your Skills
How: List down all the jobs, hobbies, or tasks you've ever done. Highlight the ones you enjoyed most.
Why: This will help you identify what you're good at and what you'd want to pursue.
2. Use Online Learning Platforms
How: Platforms like Coursera, Udemy, or Khan Academy offer courses on almost anything.
Why: It helps in updating old skills or learning new ones related to your chosen Plan B.
3. Volunteer First
How: Before turning something into a business or career, volunteer in that area locally.
Why: Gives you hands-on experience without the commitment of a full-fledged job.
4. Create a Business Plan
How: Use free online templates or software like LivePlan.
Why: Even a simple venture needs a roadmap. This plan will help you understand costs, potential revenue, and other logistical aspects.
5. Speak to a Career Coach
How: Look for local career coaches or counselors. Many offer services tailored to retirees.
Why: Their expertise can provide direction, especially if you're entering a new field.
6. Set Up an Online Presence
How: Create a profile on platforms like LinkedIn or a simple website using Wix or WordPress.
Why: This helps in networking, showcasing your skills, or even setting up an online-based Plan B like consulting.
7. Attend Local Workshops
How: Local community centers or libraries often host workshops.
Why: These are great for hands-on learning and networking.
8. Mock Start
How: Before going big, run a small version. If you're thinking of selling crafts, set up at a local fair first.
Why: This will give you a feel for the market and customer feedback.
9. Leverage Senior Discounts
How: Many services, courses, or tools offer senior discounts. Always ask before purchasing.
Why: Helps in cost-saving when setting up your Plan B.
Did You Know?
- Sustainability Interests: About 40% of hobby-turned-businesses by retirees focus on sustainability and eco-friendly products.
- Tech Adaptation: Over 55% of retirees had to learn new technology to support their hobby business.
- Local Business Support: 60% of retirees with hobby businesses receive significant support from local communities.
- Physical Activity: Retirees who choose physically active hobbies (like yoga or dance instruction) report improved health alongside income.
- Repeat Customers: About 70% of retirees with monetized hobbies report having repeat customers or clients.
10. Stay Updated on Tech
How: Dedicate a few hours each week to understand basic technology related to your field. There are numerous beginner-friendly resources available online.
Why: Even traditional fields now have some tech integration. Being familiar helps.
11. Legalities and Paperwork
How: If setting up a business, visit your local government website to know the required permits or licenses.
Why: To ensure your Plan B operates within the legal framework.
12. Join Relevant Groups
How: Websites like Meetup.com can help you find local groups of people sharing your interest.
Why: It's both a learning resource and a networking opportunity.
13. Set a Budget
How: Use simple tools like Excel or apps like Mint to track your Plan B expenses.
Why: It ensures you don't overspend and can measure if your venture is profitable.
14. Feedback is Gold
How: Regularly ask for feedback from peers, customers, or any relevant party.
Why: It helps you refine your approach and offers a chance for improvement.
15. Consider Collaboration
How: Maybe a friend or another retiree has a similar interest. Team up.
Why: Two heads can often be better than one. It divides the workload and can bring diverse skills to the table.
16. Practical Time Management
How: Use simple tools or even physical planners to block out time for your Plan B.
Why: Ensures that your new venture doesn't overshadow other retirement activities.
Preparing a Plan B during retirement is more than just finding something to fill the time; it's about fulfilling dreams or passions you've held onto. Following these practical steps can ease the transition and set you up for success.
Final Thoughts
Retirement offers a golden opportunity to explore a second career. It’s all about finding joy, passion, and a sense of purpose. So, if you've retired and are wondering what's next, consider diving into a Plan B career. It’ll definitely be the fresh start of your new life.
I appreciate your article, it’s full of information about what to do when we retire. It is true that in the current climate, nobody knows what’s going to happen even 3-5 years. We should all have good alternative plans. thank you for the great insight. Ali
Hey, thanks for your comment. Glad you agree! All the best to you.
Thanks for the article. I really get where you’re coming from. It’s smart to have a backup plan or even a couple of them, especially when thinking about the long run. It reminded me of my granddad; he had zero plans when he retired and honestly, it seemed like he just got bored with life. I definitely don’t want to end up in that spot. Your piece gave me some good ideas and got me thinking. Really appreciate it!
Tito
Thanks Tito for your comment and sharing about your grandad. Life is so short so it’s good to keep planning ahead. Even if you can’t materialize it, planning is free and you won’t lose anything!